HOON 8 November DOC

 

CLAUSE 1

 

"alternative employer" means-

(a)        the State:          p,

(b)        a national public entity as defined in section 1of the Public Finance

            Management Act. 1999 (Act No.1 of 1999):         

(c)         a company. the shares in which were transferred from Transnet to the State or

            to an entity contemplated in paragraph (b) or (d). or an entity in which such

            company owns one or more shares: or

(d)        any other company in which the State or an entity contemplated in paragraph

            (b) owns one or more shares:

Provided that after 11 November 2005­

(i)         the State or any entity contemplated in paragraph (b) or (d) acguired a business

            contemplated in section 197 of the Labour Relations Act.1996 (Act No. 66 of

            1995). from Transnet or acguired shares in a company from Transnet:

(ii)         at the date of such transaction. the business or company had in its employ a

            person who was a member of any fund established in terms of this Act: and

(iii)        the State or any entity contemplated in paragraph (b). (c) or (d) as the case

            may be. is accepted as an alternative employer for the purposes of this Act in

            terms of an agreement between Transnet and the Minister:

 

 

CLAUSE 5

 

            4A.       (1)        (a)        When the Transnet Pension Fund Amendment Act. 2006.

comes into operation. all existing members. pensioners. dependant pensioners. liabilities. assets. rights and obligations of the Transport Pension Fund shall from then on be attributable to a subfund with Transnet as the principal employer.